Qualcomm Inc (QCOM.O)
17 Aug 2017
Latest Key Developments (Source: Significant Developments)
Qualcomm Inc:The U.S. Commerce Department is set to place export restrictions on Chinese telecoms equipment maker ZTE Corp for alleged violations of U.S. export controls on Iran, according to documents seen by Reuters - RTRS.The restrictions will make it difficult for the company to acquire U.S. products by requiring ZTE's suppliers to apply for an export licence before shipping any American-made equipment or parts to ZTE.According to a Commerce Department notice that will be published next week in the U.S. Federal Register, the licence applications generally will be denied."We believe the restrictions, if implemented, will cause significant supply problems to ZTE," Jefferies analyst Cynthia Meng wrote in a note, adding that ZTE has major trading relationships with several U.S. companies including Qualcomm, Microsoft and IBM.The Commerce Department investigated ZTE for alleged export-control violations following reports by Reuters in 2012.that the company had signed contracts to ship millions of dollars worth of hardware and software from some of America's technology companies to Iran's largest telecoms carrier, Telecommunication Co of Iran (TCI), and a unit of the consortium that controls it.The U.S. companies, which included Microsoft Corp, IBM , Oracle Corp and Dell Inc, have all said they were not aware of the Iranian contracts. It is not clear if any of the companies still do business with ZTE. Full Article
Qualcomm Inc:Qualcomm Inc has agreed to pay $7.5 million to settle charges that it violated U.S. anti-bribery laws by hiring relatives of Chinese officials to obtain business, the U.S. Securities and Exchange Commission said on Tuesday - RTRS.The Chinese officials related to Qualcomm's new hires were deciding whether to select the company’s mobile technology products amid growing competition in the global telecommunications market, the SEC said.A Qualcomm spokesman could not be immediately reached for comment. The company neither admitted nor denied the SEC's findings, the agency said.An SEC investigation also found that the San Diego-based telecommunications company also provided gifts, travel, and entertainment to try to influence officials at government-owned telecom companies in China.Qualcomm lacked sufficient internal controls to detect those improper payments and misrepresented them in the company's books and records as legitimate business expenses, the SEC said. Full Article
Qualcomm and Lenovo:Have entered into a new 3G and 4G patent license agreement for China, which covers devices marketed by both Motorola and Lenovo.Under the terms of the agreement, Qualcomm has granted Lenovo a royalty-bearing patent license to develop, manufacture and sell 3G and 4G, including 3-mode complete devices. Full Article
Qualcomm Inc:Says announces three new snapdragon processors that bring advanced modem, imaging and sensors to mainstream devices.Next-generation high and low-tier processors in snapdragon family are expected to be sampling to customers in mid-2016. Full Article
Qualcomm Incorporated:Says quarterly cash dividend of $0.48 per common share.Payable on March 23 to stockholders of record date on March 02. Full Article
Novartis announces collaboration with Qualcomm Incorporated through its subsidiary, Qualcomm Life, Inc.
Novartis AG:Novartis Pharmaceuticals collaborates with Qualcomm in digital innovation with the Breezhaler(TM) inhaler device to treat COPD.Plans to launch the next generation connected Breezhaler(TM) in 2019. Full Article
Qualcomm Inc:Says has entered into a new 3G and 4G Chinese Patent License Agreement with Haier.Under the terms of the agreement, Qualcomm has granted Haier a royalty-bearing patent license to develop, manufacture and sell 3G WCDMA and CDMA2000 and 4G LTE subscriber units for use in China. Full Article
Qualcomm Inc and Beijing Tianyu Communication Equipment Co Ltd:Says that they have entered into a new 3G and 4G Chinese patent license agreement.Under the terms of the agreement, Qualcomm has granted Tianyu a royalty-bearing patent license to manufacture and sell 3G WCDMA and CDMA2000 and 4G LTE subscriber units for use in China. Full Article
Qualcomm Inc:Entered into a Chinese Patent License Agreement (CPLA) with QiKu Internet Network Scientific (Shenzhen) Co., Ltd (QiKu).Under the terms of the royalty bearing agreement, Qualcomm has granted QiKu a patent license to develop, manufacture and sell 3G WCDMA and CDMA2000, and 4G LTE subscriber units for use in China.Royalties payable by QiKu are consistent with the terms of the rectification plan submitted by Qualcomm to China's National Development and Reform Commission. Full Article
Qualcomm Inc:European Union antitrust regulators charged U.S. chipmaker Qualcomm QCOM.O on Tuesday of using anti-competitive practices to block rivals - RTRS.The accusations by the European Commission set out in a charge sheet known as a statement of objections followed a formal investigation begun in July - RTRS."The Commission informed Qualcomm of its preliminary conclusions that the company may have illegally paid a major customer for exclusively using its chipsets and sold chipsets below cost with the aim of forcing a competitor out of the market," the EU executive said - RTRS. Full Article
Chipmaker Qualcomm Inc on Monday disclosed further details about the impact of an ongoing dispute with Apple Inc, responding to questions from the U.S. Securities and Exchange Commission.